These Analysts Increase Their Forecasts On Enova After Upbeat Q3 Results

Enova International (NYSE:ENVA) reported upbeat earnings for the third quarter on Thursday.

The company posted quarterly earnings of $4.48 per share which beat the analyst consensus estimate of $4.42 per share. The company reported quarterly sales of $1.010 billion which beat the analyst consensus estimate of $1.002 billion.

“We’re pleased to deliver another quarter of strong financial results, driven by healthy demand and stable credit, as consolidated originations, receivables, revenue and adjusted EPS all grew 25% or more year-over-year,” said Steve Cunningham, Enova’s CEO. “We’ve built a high growth, highly profitable and resilient business at Enova serving large, fragmented markets with diversified products powered by our online-only business model, world-class technology and risk management, talented team and competitive funding capabilities. Our future is bright, and our focused growth strategy has us well positioned to continue delivering on our commitment to driving long-term shareholder value while meeting our mission of helping hardworking people get access to fast, trustworthy credit.”

Enova shares fell 1.2% to $174.75 in pre-market trading.

These analysts made changes to their price targets on Enova following earnings announcement.

• Stephens & Co. analyst Kyle Joseph maintained the stock with an Overweight rating and raised the price target from $215 to $225.
• Citizens analyst David Scharf maintained the stock with a Market Outperform and raised the price target from $215 to $220.
• TD Cowen analyst Moshe Orenbuch maintained the stock with a Buy and raised the price target from $220 to $224.

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